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Elon Musk’s Baby Shark Tweet Increased Investment Shares By 10%

by : Niamh Shackleton on : 02 Jun 2021 14:12
Elon Musk's Baby Shark Tweet Increased Investment Shares By 10%PA Images/Pinkfong

Elon Musk is working his Twitter magic once again.

The Tesla and SpaceX founder has become renowned for helping companies’ shares increase in value with a single tweet, and now he’s given a helping hand to Baby Shark’s publisher.

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Disclaimer: you will get Baby Shark stuck in your head after reading this article.

South Korea-based Samsung Publishing is a major shareholder of SmartStudy, the producers of the irritable yet extremely catchy children’s song. It reportedly owns 19.43% of the South Korean educational entertainment company.

Baby Shark video (Pinkfong)Pinkfong

In the wake of Musk’s recent tweet, Samsung Publishing’s shares increased by 10%. Despite the name, the publishing house has no connections to electronics giant Samsung.

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Responding to a tweet posted on South Park’s official page, Musk wrote, ‘Baby Shark crushes all! More views than humans,’ alongside a link to the song. At the time of writing, the viral YouTube song has generated a staggering 8,681,353,444 views. As of November last year, it was the most-viewed YouTube video in all of the video platform’s history.

In light of the tweet, at the end of Asia’s trading yesterday, June 1, Samsung Publishing’s stock closed at around 6% higher, Markets Insider reports, after peaking at 10% at one point.

Yesterday’s increase comes after the company experienced a surge of more than 97% since the start of the year, according to CNBC. By the end of yesterday, its shares were sitting at 47,300 Korean won.

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While Samsung Publishing’s value has skyrocketed this year, it’s still down from its year-to-date high. In April, it hit 59,000 Korean won.

Despite this, the company is still doing pretty well with the help of Baby Shark’s success. According to Business Standard, Samsung Publishing’s stock has more than quadrupled since the end of 2018 after the song became hugely popular.

This isn’t the only company Musk has worked his Twitter magic on – in recent months he’s become Dogecoin’s number one ambassador.

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The tech mogul has tweeted about the digital coin several times, most recently this morning, June 2.

Sharing an image with the famous Shiba Inu from the meme Dogecoin is based on, Musk joked, ‘Found this pic of me as a child’. Alongside the dog is a computer and the caption, ‘I have to keep my passion hidden from the public or I’ll be socially ostracized.’

Almost straight after sharing the tweet, Dogecoin jumped up 21% to 39 cents, Market Insider reports.

Since the beginning of the year, the value of the cryptocurrency has soared more than 9,000%.

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Featured Image Credit: PA Images/Pinkfong

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Niamh Shackleton

Niamh Shackleton is a pint sized person and journalist at UNILAD. After studying Multimedia Journalism at the University of Salford, she did a year at Caters News Agency as a features writer in Birmingham before deciding that Manchester is (arguably) one of the best places in the world, and therefore moved back up north. She's also UNILAD's unofficial crazy animal lady.

Topics: Music, Baby Shark, Elon Musk, Now, stocks, Technology, tweet

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Markets Insider and 1 other
  1. Markets Insider

    Elon Musk's 'Baby Shark' tweet sends shares in the iconic song's investor up 10%

  2. CNBC

    Elon Musk tweets again, sending shares of ‘Baby Shark’ investor soaring